Coingape Daily Recap: Bitcoin slides under $68K, sparking $1B+ liquidations; CLARITY Act moves forward; Coinbase backs Ethena

Bitcoin fell below $68,000, setting off more than $1 billion in liquidations as ETF outflows and geopolitical uncertainty pressured risk sentiment. In Washington, the CLARITY Act advanced onto the Senate calendar. Galaxy Digital highlighted its conviction in the bill's prospects by putting on a $10 million bet tied to eventual approval. Coinbase disclosed an investment in Ethena and unveiled a partnership aimed at bringing onchain finance products to more than 100 million users. The announcement pushed ethereum:0x57e114b691db790c35207b2e685d4a43181e6061 sharply higher. Ripple expanded RLUSD into Türkiye. Separately, SBI Holdings partnered with Anthropic to roll out Claude AI across its financial businesses. Ethereum's bullish narrative gained traction after Standard Chartered said ethereum:native could outperform bitcoin:native, as institutional accumulation of ethereum:native continued. Today's focus: Grayscale's hyperliquid:native Staking ETF may be nearing launch after the firm disclosed a 0.29% management fee. Senate discussions on the CLARITYAct are expected to resume as lawmakers return to Washington. Investors are also tracking SEC and CFTC proposals that could reshape derivatives and crypto market oversight. Bitcoin whale activity jumped to a six-week high, pointing to increased institutional and large-holder participation. Anticipation around a SpaceX IPO is also drawing attention to Rocket Lab and AST SpaceMobile.